Moors & Cabot Inc. Purchases Shares of 21,100 Rithm Capital Corp. (NYSE:RITM)

Moors & Cabot Inc. purchased a new stake in shares of Rithm Capital Corp. (NYSE:RITM) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,100 shares of the real estate investment trust’s stock, valued at approximately $197,000.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Rithm Capital by 0.8% during the first quarter. Vanguard Group Inc. now owns 42,301,286 shares of the real estate investment trust’s stock valued at $464,468,000 after acquiring an additional 321,279 shares during the period. BlackRock Inc. boosted its holdings in Rithm Capital by 6.4% during the first quarter. BlackRock Inc. now owns 24,850,959 shares of the real estate investment trust’s stock valued at $198,808,000 after acquiring an additional 1,491,079 shares during the period. Bank of America Corp DE lifted its stake in shares of Rithm Capital by 23.2% in the first quarter. Bank of America Corp DE now owns 9,832,254 shares of the real estate investment trust’s stock valued at $78,658,000 after buying an additional 1,852,760 shares during the period. Geode Capital Management LLC lifted its stake in shares of Rithm Capital by 36.8% in the first quarter. Geode Capital Management LLC now owns 8,492,827 shares of the real estate investment trust’s stock valued at $68,036,000 after buying an additional 2,283,734 shares during the period. Finally, State Street Corp lifted its stake in shares of Rithm Capital by 2.5% in the first quarter. State Street Corp now owns 8,129,642 shares of the real estate investment trust’s stock valued at $67,056,000 after buying an additional 195,356 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Rithm Capital Stock Performance

NYSE RITM opened at $10.11 on Tuesday. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of 6.97 and a beta of 1.86. The company has a 50 day moving average of $9.54 and a 200-day moving average of $9.38. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.09. Rithm Capital Corp. has a 1-year low of $7.40 and a 1-year high of $10.45.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.24. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $922.90 million. Rithm Capital had a net margin of 21.51% and a return on equity of 17.01%. Rithm Capital’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 earnings per share. On average, equities analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Friday, September 29th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.89%. The ex-dividend date of this dividend was Thursday, September 28th. Rithm Capital’s dividend payout ratio is currently 68.97%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Jonestrading upgraded shares of Rithm Capital from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Friday, October 27th. Wedbush reiterated an “outperform” rating and issued a $12.00 target price on shares of Rithm Capital in a research note on Thursday, August 3rd. Piper Sandler increased their target price on shares of Rithm Capital from $10.00 to $10.50 in a research note on Monday, August 7th. Raymond James increased their price target on shares of Rithm Capital from $11.50 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 30th. Finally, Compass Point increased their price target on shares of Rithm Capital from $11.00 to $12.00 in a research report on Monday, October 2nd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $11.50.

Rithm Capital Company Profile

Rithm Capital Corp. operates as an investment manager that operates a vertically integrated mortgage platform and invests in real estate and related properties in the United States and Europe. The company provides capital and services to the real estate and financial services sectors. Its investment portfolio comprises mortgage servicing related assets, residential securities and loans, and single-family rental loans.